El Dorado began operations by providing window cleaning services to Mason Properties during the period April 25-May 10. These services will be billed and collected from Mason on May 10th. The total window-cleaning contract for the period between April 25 and May 10 is provided by the first slider. The second slider provides the percentage of the total contract earned between April 25-30, based on the work provided. Use these sliders to evaluate the financial statement impact on a timeline, and then in the T-accounts of the accounting equation for April 30 and May 10.Move the first slider to select the fees earned to see how it affects the timeline numbers and T-accounts. Likewise, move the second slider left and right to see how the percentage collected affects the timeline numbers and T-accounts.Click here and answer the following questions using the sliders the dynamic timeline, and the T-accounts. If an answer is zero, enter “0”.For questions 1-4, assume the total contract is $6,000 and the percent earned in April is 25%.1.What are the Fees Earned for April?$2.What are the Fees Earned for May?$3.What is the Accounts Receivable balance on April 30?$4.What is the Accounts Receivable balance on May 10?$5.The amount of cash collected on May 10 is to the total fees earned from Mason Properties.6.What slider combination produces the greatest revenue for May? (total contract, percent earned in April)7.What position on second slider produces the smallest April 30 Accounts Receivable balance?
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